What's your prediction on the Australian Dollar?

[whatmeworry]

The US market disappointed with Trump's press conference and US dollar down against most currencies. Aussie Dollar up over a cent.

 

[PLANT]

I'll say the AU will never be parity again in any AFF member life time!!!

 

[oh_lol]

Happy days. Parity 2017!

 

[cove]

Last night we had an overnight order on to write a currency option.
Our price got triggered by the overnight surge so we will get USD at 0.75 around June this year.

If the currency surges to 0.80 before June,2017 you will know that was a mistake.

 

[vetrade]

Is jumping at shadows the new norm?

 

[anat0l]

I'll say the AU will never be parity again in any AFF member life time!!!

Well, I hope to live for another 40 years at least, unless I get hit by a bus earlier than that.

Working on that assumption, I guess you might be right, since it's taken about half of my life just to see parity.

 

[wandering_fred]

Happy days. Parity 2017!

The real question is "parity with what?" The Euro?

Happy wandering

Fred

 

[JohnK]

Well, I hope to live for another 40 years at least, unless I get hit by a bus earlier than that.

Working on that assumption, I guess you might be right, since it's taken about half of my life just to see parity.

After the 70's I thought I would never see parity. Have seen it twice since. Will more than likely see parity again.

 

[cove]

Well the $AUD is now over 0.75 and is defying the plunge predictions. There have been many predicting a plunge but those international institutions who shorted our Big 4 banks are now in heavy losses. Too bad really because in Australia our super funds do nicely when the bank shares rally.

 

[vetrade]

Well the $AUD is now over 0.75 and is defying the plunge predictions. There have been many predicting a plunge but those international institutions who shorted our Big 4 banks are now in heavy losses. Too bad really because in Australia our super funds do nicely when the bank shares rally.

To be fair, the plunge was predicated on speculation about IRs so it was never going to happen this week - then again, it was based on hypotheticals and faulty logic so talk of a plunge anytime soon was meaningless anyway.

The present weakness in the USD (aka "strength" in the AUD) is hitched to the seasonal up in gold we are seeing ATM. FWIW I think the "Trump effect" is overblown. After the Chinese New Year gold is likely to fall back a little and the USD strengthen along with that, so the AUD's "time in the sun" might be relatively short lived.

 

[cove]

I am hoping for a rate better than 0.7644 which was my last purchase for USD personally.

 

[PLANT]

Buy buy buy NOW!

 

[vetrade]

Did you mean "Bye bye bye NOW"?

 

[oh_lol]

Buy buy buy NOW!

 

[get me outta here]

Where's a / some good (cheapest) places to buy USD at the moment? There's the PO/AMEX/ money changers etc - anything else you guys use?

 

[get me outta here]

Just in case you were wondering when it was that we were getting close to $1.10: Chart showing RBA Cash minus Fed Funds against AUD/USD (Source: NAB, Macrobon

 

[vetrade]

Where's a / some good (cheapest) places to buy USD at the moment? There's the PO/AMEX/ money changers etc - anything else you guys use?

Travelex often has the best rates - but only if you order online and then pickup in store or at your PO.

 

[whatmeworry]

My dad reminds the AUD used to buy 5 deutschmarks.

 

[moa999]

My dad reminds the AUD used to buy 5 deutschmarks.

Or about €2.47 given when the Euro started it was DM1.95 to €1

Whereas now A$1 = €0.71

 

[anat0l]

Travelex often has the best rates - but only if you order online and then pickup in store or at your PO.

Travelex would have reasonable rates if they didn't charge commission. Actually, I find their rates are not fantastic.

Many independent money changing bureaus with no commission offer better deals. The headline rate may be lower, but after you factor in commission, you get better deal overall.